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Overview / Commentary
800-639-5550
332 Cummings Rd
South Portland, ME 04106

Truchoice Credit Union is headquartered in South Portland and is the 27th largest credit union in the state of Maine. It is also the 1,600th largest credit union in the nation. It was established in 1955 and as of March of 2014, it had grown to 34 employees and 10,891 members. Truchoice Credit Union's savings rates are 3X the national average, and it has a A health rating.

Field of Membership Restrictions

Must live, work, worship or go to school in York or Cumberland County, Maine. - See Details

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Health

Data for Q1 2014

Institution Health

A
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Truchoice Credit Union has a relatively low asset base.

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Truchoice Credit Union had $843,000 in non-current loans and owned real-estate with $11.35 million in equity and loan loss allowances on hand to cover it. This gives Truchoice Credit Union a Texas Ratio of 7.42% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Truchoice Credit Union decreased slightly from 10.30% as of March 31, 2013 to 7.42% as of March 31, 2014, resulting in a positive change of 27.90%.This indicates that the balance sheet and financial strength for Truchoice Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Truchoice Credit Union has increased its total deposits by $5.48 million, resulting in 7.27% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Truchoice Credit Union has shown is excellent.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Truchoice Credit Union has $92.02 million in assets with $11.35 million in equity, resulting in a capitalization level of 12.34%, which is excellent.

Institution Statistics

Overall
NCUA #10100
Year Chartered1955
Employees34
Primary Regulator
Assets and Liabilities
Assets$92.02 million
Loans$72.81 million
Deposits$80.84 million
Equity Capital$10.32 million
Loan Loss Allowance$1.03 million
Unbacked Noncurrent Loans$843,000
Real Estate Owned$0
Historic Data - March 2013
Assets$85.91 million
Equity Capital$9.52 million
Loan Loss Allowance$964,000
Unbacked Noncurrent Loans$843,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets0.25%
Return on Equity2.21%
Interest Income$1.16 million
Rates
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Truchoice Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.60%$75k-Individual Retirement Account
1.60%$75k-Roth Individual Retirement Account
1.60%$75k-Coverdell Education Savings Account
0.20%$75k-Savings Account
0.15%$2,500-Club Account

Truchoice Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%$75k-Money Market Account

Truchoice Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.65%$2,500-2 Year Share Certificate
0.40%$2,500-1 Year Share Certificate
0.25%$2,500-6 Month Share Certificate
Locations


Truchoice Credit Union Locations
Branch Office2211 CONGRESS STPORTLAND, ME 04102
Branch Office779 NARRAGANSETT TRLBUXTON, ME 04093
Branch Office332 Cummings RdSouth Portland, ME 04106
Branch Office272 PARK AVEPORTLAND, ME 041022912